Fraport AG Frankfurt Airport Services Worldwide
EANS-Adhoc: Tax Audit of Fraport Group Completed - High Release of Provisions. Profit after Tax for 2010 Expected to Total around EUR 270 Million, Proposed Increase of Dividend to EUR 1.25 per Share.
ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
25.01.2011
The tax audit of the Fraport Group carried out by the German tax authorities has been completed. Today, Fraport received the tax assessment for the financial years 1999 - 2002. According to the assessment, Fraport has to make a retroactive tax payment of about EUR 20 million for the years 2001 and 2002. Fraport has built up sufficient provisions for additional tax payments. The remaining amount of provisions can thus be released and will be recognized in income for the year 2010. The tax treatment of the Manila engagement was an essential part of the tax audit.
Fraport now expects profit after tax to reach around EUR 270 million for the year 2010. In the previous year profit after tax amounted to EUR 152.0 million. As the financial year 2010 showed an overall positive development, the executive board intends to propose to the supervisory board a dividend increase from EUR 1.15 to EUR 1.25 per share. The decision about the profit appropriation and the dividend increase will be taken at the Annual General Meeting.
The Fraport Group will publish the preliminary figures for 2010 on March 11, 2011.
end of announcement euro adhoc
Further inquiry note:
Stefan J. Rüter
Head of Finance & Investor Relations
Tel.: +49 (0) 69 690 748 40
E-Mail: s.rueter@fraport.de
Branche: Transport
ISIN: DE0005773303
WKN: 577330
Index: Midcap Market Index, MDAX, CDAX, Classic All Share, HDAX,
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